SAIL Charts Turnaround Strategy

City Name:

New Delhi

Release Date:

Wed, 08/16/2017 - 16:49

Press Release

SAIL Charts Turnaround Strategy

Bhilai / New Delhi, August 13, 2017: : SAIL Chairman Sri P K Singh held a series of Communication interaction with a cross section of more than 750 employees on 12th August, 2017, at Bhilai Steel Plant of the company. Chairman personally interacted on the imperatives and challenges before the company in the present trying times before the company. Chairman clearly spelt out expectations from SAIL especially Bhilai Steel Plant collective where the ramping up of production from newly commissioned Universal Rail Mill producing World’s single longest piece of rail, is in full swing. Chairman encouraged two way flows of ideas during the interaction to ensure positive embedding of the message. He was accompanied by SAIL’s Director (Finance) Mr. Anil Chaudhary, Director (Projects and Business Planning) Dr. G Vishwakarma and Director (Technical) Mr. Raman for the communication exercise. Similar exercises are planned across the country in all units and offices of SAIL.

The roadmap charted by the company in these aims to reach:

• To set the EBITDA target for SAIL for the next two to three years.

• Reducing procurement costs.

• Prudent finance management to bring down finance cost

• Focus on reducing operating cost of old and new assets and overhead costs.

• Avenues to increase NSR.

• Manpower utilisation optimization.

• Focus on improved marketing, branding and distribution.

• Ramping up of Production from the new and modernised units.

• To complete the remaining projects at the earliest.

Addressing the Bhilai collective, Mr. Singh told that, “Bhilai and all Plants of the Company have newer and better technologies at their disposal which must be judiciously utilized and its full potential should be realised. Market conditions are volatile and we have to adapt to them fast matching the world standards. The effort of SAIL collective is reflected in our positive operational performance but we have to push ourselves more for better results. Time is of essence and every employee has to dedicate himself towards overall improvement”

Chairman emphasised to the collective to rediscover themselves and reorient their performance metrics to overcome the challenges to reap the growth opportunities. He emphasized on the golden prospects presented by the current expansion of Railways and that the Plant should be ready to cater to the entire demand of Indian Railways. The state-of-the-art URM, established at a cost of about Rs. 1200 Crores has taken BSP’s total capacity to produce rails at 2.0 MTPA, which will be the largest rail production capacity in any single location for a Plant world over.